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Saskatchewan Petroleum Innovation Incentive (SPII)
SK, Canada
Innovative oil, gas projects get 25% cost credit incentive
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJuly 8, 2019
- grant_single|closingDateMarch 31, 2029
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- Mining, quarrying, and oil and gas extraction
grant_single|grantors
- Government of Saskatchewan
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Saskatchewan Petroleum Innovation Incentive (SPII) provides transferable Crown royalty and freehold production tax credits up to a project-specific cap of CAD$5 million for innovation commercialization projects in Saskatchewan’s oil and gas industry. The program aims to support activities that improve oil and gas recovery, manage environmental impacts, increase value-added processing capacity, or commercialize byproducts or waste from oil and gas production.
grant_single_labels|projects
The Saskatchewan Petroleum Innovation Incentive (SPII) supports commercial and pilot-scale innovation projects aimed at advancing Saskatchewan’s oil and gas industry. Eligible activities focus on enhancing recovery, environmental management, processing capacity, and commercialization of byproducts.
- Improvement of oil and gas recovery methods to increase production efficiency.
- Managing adverse environmental impacts through innovative solutions.
- Increasing processing capacity to add value to oil and gas products.
- Commercialization of byproducts or waste from oil and gas production.
grant_single|admissibleProjectsExample
$ 60,000
Set up a digital literacy camp for seniors
$ 150,000
Develop a mobile app for community mental health resources
$ 75,000
Implement social enterprise training for underrepresented youth
$ 90,000
Create an art therapy program for trauma survivors
$ 300,000
Launch a green roofing initiative for urban sustainability
$ 140,000
Establish a sustainable urban farming project in city spaces
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the project and the applicant's activities within Saskatchewan's oil and gas sector.
- The innovation must be assessed at a minimum Level 7 on the SPII Technology Readiness Level Scale.
- The project must be new to Saskatchewan’s oil and gas industry or significantly advance the current state of the art.
- The project should demonstrate a new and significantly different commercial scale without a technical equivalent in Saskatchewan.
- The project must aim to improve oil and gas recovery, manage adverse environmental impacts, increase value-added processing capacity, or commercialize oil and gas production byproducts or waste.
- The project must involve a minimum investment of CAD$1 million in eligible capital and operating costs.
- The project must not be commercially operational prior to submitting an application.
- Applicants must either directly own the innovation or have a recognized licence for the innovation.
- The research and development of the innovation does not need to occur within Saskatchewan.
grant_eligibility_criteria|who_can_apply
The Saskatchewan Petroleum Innovation Incentive (SPII) is open to corporate entities seeking to drive innovation within Saskatchewan’s oil and gas industry. It embraces projects at various stages, from pilot to commercial scale, provided they align with the strategic goals of advancing technological capabilities and enriching the industry with novel solutions.
- Corporate entities proposing projects that integrate new or significantly advanced innovations within Saskatchewan's oil and gas sector.
- Applicants demonstrating projects that are novel to the province's industry or substantially enhance existing practices.
- Projects aiming to improve oil and gas recovery, manage environmental impacts, enhance processing capacity, or commercialize byproducts.
- Firms that meet the technical readiness requirements and can engage multiple stakeholders or sites to achieve project objectives.
grant_eligibility_criteria|who_cannot_apply
The grant documentation does not explicitly detail any industries or types of companies that are ineligible. However, the focus is on innovations in Saskatchewan's oil and gas sector.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses that are directly tied to the execution of eligible projects in Saskatchewan's oil and gas industry.
- Eligible capital costs amounting to at least CAD$1 million.
- Eligible operating costs necessary to carry out the approved project.
- Costs incurred in a pilot or commercial scaling project under the SPII.
- Costs that have been expert-verified by a third party.
grant_eligibility_criteria|zone
SPII is a program available to companies operating within Saskatchewan, Canada, as administered by the Ministry of Energy and Resources. It is specifically tailored to enhance innovations in the province's oil and gas industry.
- Companies conducting eligible projects within the province of Saskatchewan.
grant_single_labels|register
- Step 1: Download Application Form
- Visit the SPII website to download the SPII Application Form.
- Step 2: Complete Application Form
- Fill out all required sections in the SPII Application Form accurately.
- Ensure to compile any necessary supporting documents.
- Step 3: Submit Application
- Email the completed SPII Application Form along with supporting documents to spii@gov.sk.ca.
- Step 4: Receive Confirmation
- Wait for the Ministry of Energy and Resources to confirm receipt of the application by email.
- If the application is incomplete, expect communication indicating the required corrections.
- Step 5: Application Review
- The Ministry will assess the application against the eligibility requirements in the regulations.
- Step 6: Conditional Approval
- If the application is approved, receive a Letter of Conditional Approval via email.
- Step 7: Final Agreement
- Once conditionally approved, enter into a formal agreement with the Ministry that details the project plan and eligible costs.
- Step 8: Project Execution
- Execute the project as outlined in the agreement.
- Step 9: Earning Credits
- Submit a Royalty Credit Application Form through the IRIS system once eligible costs exceed CAD$1 million.
- Step 10: Credit Application Review
- Ministry reviews and evaluates the Royalty Credit Application to approve eligible costs.
- Step 11: Credit Approval
- If approved, receive a Certificate of Approval, and earn 25% of eligible costs as royalty credits.
- Step 12: Utilizing Credits
- Credits are automatically applied against royalty or tax obligations or can be transferred to another entity via a Royalty Credit Transfer Application in IRIS.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Credits are fully transferable, allowing non-producers or non-royalty payers to benefit by transferring these credits to others.
- The SPII can be combined with other incentive and grant programs available in Saskatchewan, offering additional financial leverage.
- The program encourages collaborative projects involving multiple companies, with costs incurred by firms other than the principal applicant.
- Unused credits will expire on March 31, 2040, unless other terms are stated in the agreement.
grant_single_labels|contact
spii@gov.sk.ca
